Vancouver

Let’s talk about Vancouver, British Columbia—a city that’s as much a lifestyle destination as it is a real estate juggernaut. If you’ve ever driven through the downtown core with the North Shore mountains looming in the background or grabbed a coffee along the Seawall, you know this place has a vibe that’s hard to match. But beyond the postcard views, there’s a lot to unpack about Vancouver from a mortgage and real estate perspective. So, whether you’re a mortgage broker scouting for lending options or a borrower hunting for a way to make a deal work, let’s dive into what makes this city tick.

First off, Vancouver’s housing market is a beast of its own. With a population pushing close to 700,000 and a density that packs over 5,000 people per square kilometer, space is at a premium. You’re looking at a mix of high-rise apartments dominating the skyline—over 30% of dwellings are in buildings under five storeys—and a shrinking share of single-detached homes at just under 15%. For brokers, this means deals often involve condos or duplexes, where strata fees and building conditions can complicate appraisals. Borrowers, on the other hand, need to brace for fierce competition and prices that can make your head spin, especially if you’re eyeing a spot near Stanley Park or Kitsilano.

What sets Vancouver apart from other BC communities isn’t just the urban buzz; it’s the economic diversity propping up its real estate. Tech, film, education, and professional services drive the local economy, with over 14% of jobs in professional and scientific fields alone. This isn’t a one-trick pony like some resource-dependent towns. For a mortgage broker, that diversity translates to clients with varied income streams—think freelancers or startup founders who might not fit traditional lending boxes. And for borrowers, it means there’s often a path to stability, even if the 9% unemployment rate raises an eyebrow. A solid exit strategy for a loan isn’t a pipe dream here.

Now, let’s get real about the climate—because, yes, it matters in real estate. Vancouver’s mild Zone 9a climate, with warming trends over the past few decades, isn’t just nice for growing fancy plants. It’s a draw for retirees and lifestyle buyers who want ocean access and year-round outdoor fun. That desirability keeps property values buoyant, which is great for resale potential. As a lender, I’ve seen how this can ease concerns about recovery timelines in a worst-case scenario. Brokers, you’ll find clients flocking here for the lifestyle, while borrowers might lean on that equity for non-traditional financing needs.

Here’s the catch, though: at Tekamar Mortgage Fund, we’ve got a firm rule. Our maximum loan-to-value (LTV) in Vancouver is 0%. Zilch. We know it’s a fantastic market, but our niche is lending where others won’t—think smaller BC towns or bigger centers like Kelowna and Victoria, with a max LTV of 70% and a preference for 60% elsewhere. Vancouver’s got plenty of MICs who know the turf better than we do. So, brokers, if you’ve got a deal outside the Greater Vancouver Area, give us a shout—we’re all ears. And borrowers, if you’re in a smaller community and need equity lending or a non-income-qualifying solution, we’re your go-to with a clear exit strategy in mind.

Vancouver’s allure is undeniable, from its cultural hotspots to its economic resilience. But for us at Tekamar, our tagline says it all: “We’ll lend where other MICs won’t.” Got a deal in a town without stoplights? Let’s talk.